New Orleans condo project is on hold while economy improves

One of the developers of the $60 million, 136-unit Tracage condominium development proposed for New Orleans' Warehouse District said the project is on hold until the economy improves.

But Rob Tatum said developers still intend to move the project forward.

In November 2006, a concrete warehouse was knocked down to clear way for the development. The Tracage site, at the intersection of John Churchill Chase and Annunciation streets, remains fenced off.

Tracage is not the first New Orleans project sidelined by the national economic slump. In February, a lawyer for developers of a proposed Poydras Street high-rise involving real estate mogul Donald Trump said the project is also on hold pending the economic recovery.